66-81 5th fl & ped bridge for hospital garage BAN

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on the same shall be irr~vocably pledged for the payment of the principal of and interest on said notes or the bonds in anticipation of which they are issued, when and as the same falls due; provided, however, that in each year to the extent that revenues are available from other sources for the payment of such notes and bpnds and are appropriated for such purpose, the amount of such direct tax upon all of the taxable property in the City shall be reduced by the amount of such revenues so available and appropriated. .Section 9. It is hereby determined and recited that all acts, conditions and things necessary to be done precedent to and in the issuing of said notes in order to make them legal, valid and binding obligations of the City of Lakewood, will have been done and performed in regular and due form as required by law; and that no limitation of indebtedness or taxation, either statutory or constitutional, will have been exceeded in the issuance of said notes. Section 10. The Clerk of Council is hereby directed to for- ward a certified copy of this ordinance to the County Auditor. Section 11. That the Mayor and Director of Finance or either of them are hereby authorized to prepare, execute and deliver to the original purchaser of said notes a preliminary and final Official State- ment or any other appropriate disclosure document of the City in con- nection with the sale and delivery of said notes. Section 12. It is found and determined that all formal actions of this Council concerning and relating to the passage of this ordinance were adopted in an open meeting of this Council, and that all such deliberations of this Council and any of its committees that resulted in such formal action, were in meetings open to the public, in compliance with all legal requirements including the City's Charter and Codified Ordinances and Section 121.22 of the Ohio Revised Code. Section 13. That this ordinance is hereby declared to be an emergency measure necessary for the immediate preservation of the public peace, property, health, safety and welfare in the City for the reasons set forth and defined in the preamble to this ordinance and provided it receives the affirmative vote of two-thirds (2/3) of all members elected to Council, this ordinance shall take effect and be in force immediately upon its adoption by the Council and approval by the Mayor; otherwise it shall take effect and be in force after the earliest period allowed by law. Passed: , 1981 , 1981 Clerk of Council -4-